"The strategy of scarcity" builds a following and drives up the price, Julian Van Winkle III told Fortune last year. The 20-year-aged Pappy costs $239 a bottle, and the 23-year-aged costs $399 a bottle.

Perhaps it's the weather -- is bourbon a winter spirit? -- or perhaps it's because bourbon fever isn't as fervent in South Florida: There seems to be less demand for Pappy Van Winkle in these parts. I had some this past weekend at The Raleigh, which carries all three on the menu. "Is that the last of it?" asked a server when he poured me the end of the 15-year-aged bottle, priced at $23 a glass. He was able to find a replacement as well as bottles of the older stuff.